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Northwestern’s Kellogg School of Management has the best full-time MBA program in the world, according to The Economist’s 2017 ranking.

Kellogg has consistently risen in the publication’s annual ranking since 2013, when it was named number 23. Last year, NU was ranked second to the University of Chicago Booth School of Business, which had placed first for five consecutive years before the current rankings.

The Economist judges schools based on quantitative and qualitative data in a variety of categories, including post-graduation salary, student diversity and potential to network, according to its website.

Taryn Tawoda, associate director of external communications for Kellogg, said “it is Kellogg’s policy to not comment on rankings.”

Thais Muñoz, a student enrolled in the one-year MBA program, said the ranking made her feel “proud” to be part of the school. She said she shared the results with her family, and has seen many of her friends posting about the ranking on social media.

“For the school, it means all the effort they have put in, all the work they are doing, it’s bringing good results,” Muñoz said. “I don’t think they only care about the ranking, and there are different rankings, but I’m sure they are very happy right now and it’s a reason for them to celebrate.”

Muñoz, who is from Peru, said people “worldwide” pay attention to rankings like The Economist’s, so Kellogg’s first-place spot could help attract more applicants.

Meredith Ragno, a first-year Kellogg student, said the ranking reflects the work of Kellogg Dean Sally Blount and the impact of the new Kellogg Global Hub, which opened in March.

Ragno said she is enrolled in Kellogg’s MMM program, a dual-degree program through which students receive an MBA from Kellogg and a master’s of science in Design Innovation from the McCormick School of Engineering. She added that the program — the first of its kind, according to the Kellogg website — is an example of how Kellogg is “leading the way” in terms of innovative academic offerings.

While the ranking from The Economist is a “valuable metric,” Ragno said it is only one of many.

“It’s an important indicator, but I think the reality is that we’re definitely not the best MBA program in the world,” she said. “I think it’s hard to define that. So it’s nice to have, but I don’t think it really changes the nature of the school.”

Second-year Kellogg student Alexander Katz agreed that the ranking wouldn’t directly impact his experience at the school, but was nevertheless an important way to recognize the work of students and faculty. He said some of the school’s strengths lie in its strong alumni support and “collaborative” culture.

However, Katz added that Kellogg still has room to improve, like by increasing support for startups and professional clubs.

Nick Miner, a student enrolled in the one-year MBA program, said Kellogg promotes a “welcoming and warm” atmosphere. The Economist’s ranking shows Kellogg is a top-tier program that can hold its own with “the Harvards” and “the Stanfords,” he said, but much of what sets Kellogg apart is the “cohesiveness” of the student body.

“It’s got a certain energy and aura that I think is very rare, even with the top schools, and that is really hard to replicate,” Miner said. “That’s a culture that is built over decades, and I think that is what really differentiates this place from some of the other top-ranked schools.”